Quote:
Originally Posted by Pinnacle
Im from Mumbai and in the Realty bussn..
In the deluge of 26th July 2005, my bungalow was under 8 ft of water and we had 2 feet water in our office... as both are on the ground floor...
And it was heartening to see the PSU insurance co. settle my claims promptly. I got the claim money in 4 weeks.
2 of my cleints who stayed in ground floor apartments got their claims for loss of household goods. They were really glad that they had the home insurance
After the July deluge, insurance co. saw a surge in cleintele who wanted to insure their homes. As of today, India is one of countries with lowest penetration ratio of home insurance and life insurance too
If only awareness is increased, more people would come forward to take home insurance
Ram  |
The incident of 26th July 2005 was a natural disaster that had affected the mass. May be this was the reason of activeness of insurance companies. And the companies got its reward in form of getting more and more insurers in the time followed.
But, commonly at an individual level or where the reason is man made or say accidental, one has to suffer a lot in the name of formalities keeping the insurance money pending for years. This is the reason people generally do not trust on these policies.
So need is to make the policies friendly to everyone and only insurance company can create this trust by showing activeness in handling the insurance matters.